VC and Investment
Biotechnology
US biotech major Moderna plans to raise $2 billion through a private placement of convertible senior notes due 2032, offered to qualified institutional buyers under Rule 144A. Initial purchasers will get a 13-day option to take up to $300 million of additional notes, which would lift the total to $2.3 billion. 28 August 2026
Today's issue
Refine search
Pharmaceutical
US clinical-stage biopharma Sling Therapeutics today announced the close of a $123 million Series C financing. The proceeds will support the continued clinical advancement of linsitinib, an oral small molecule inhibitor of IGF-1R (insulin-like growth factor 1 receptor), a validated target for the treatment of thyroid eye disease (TED). 16 September 2026
Biotechnology
California-based biotech company RegCell has closed $66 million in new funding, made up of a $44 million series A led by Playground Global and a further 3.4 billion yen ($22 million) in non-dilutive money from Japan's Agency for Medical Research and Development (AMED). The company said on Tuesday the cash will carry its regulatory T cell platform into clinical development across several autoimmune diseases. 16 September 2026
Generics
Swiss generics and biosimilars company Sandoz has issued a 500 million euros ($585 million) bond with a 12-year maturity and a 4.835% coupon, with proceeds earmarked for general corporate purposes including refinancing existing debt. 15 September 2026
Biotechnology
Electra Therapeutics, a South San Francisco biotech company, has set terms for its stock market debut, proposing to sell 21.7 million shares at between $14 and $16 each. At the $15 midpoint the offering would raise about $325 million and value the business at roughly $916 million. 15 September 2026
Biotechnology
Privately-held US immuno-oncology firm Shennon Biotechnologies has raised $12 million in a financing round from Future Ventures, NextGen Venture Partners, Samos Investments, Atypical Ventures and Saras Capital, with participation from existing investors DCVC, Foundation Capital and AV8 Ventures. 14 September 2026
Pharmaceutical
Swiss pharma major Novartis is under public pressure to overhaul its board after two late-stage trial failures in the space of a few days triggered the steepest share price fall in the company's history. David Samra, managing director at USA-based fund manager Artisan Partners, told Reuters on Thursday that the board needs far stronger oversight of acquisitions. 11 September 2026
Biotechnology
USA-based Solstice Oncology has launched with a $225 million Series A financing to advance porustobart, a second-generation, Fc-enhanced CTLA-4 antibody, into neoadjuvant treatment of colon cancer. 10 September 2026
Pharmaceutical
US biotech company TwoStep Therapeutics has secured Food and Drug Administration (FDA) clearance to begin human testing of its lead cancer candidate, TS-104, alongside an oversubscribed $62.5 million series A financing. The San Carlos, California-based firm said patient enrollment in a first-in-human Phase I trial should begin before the end of the year. 10 September 2026
Biotechnology
US biotech company Encoded Therapeutics has closed a $275 million series F financing that will fund pivotal testing of ETX101, a gene therapy for Dravet syndrome, a severe form of childhood epilepsy. The privately held South San Francisco firm announced the round on Wednesday, days after presenting updated trial data at the European Epilepsy Congress. 10 September 2026
Biotechnology
US biotech Moonwalk Biosciences, which is developing first-in-class adipose-targeted RNA interference (RNAi) medicines for obesity and cardiometabolic diseases, today announced the closing of an oversubscribed $70 million Series B financing. 8 September 2026
Biotechnology
US clinical-stage biotech PDS Biotechnology saw its shares rocket 183% to $0.62 today, after it announced it has raised up to $22.55 million in equity funding in a Private Investment in Public Equity (PIPE) transaction. 8 September 2026
Pharmaceutical
The global pharmaceutical industry has committed an additional £2 billion ($2.70 billion) to the UK since September 2025, according to the Association of the British Pharmaceutical Industry (ABPI), which benchmarks the country against 12 leading markets on more than 40 international metrics in its 2026 competitiveness report. 8 September 2026
Biotechnology
USA-based biotech Superluminal Medicines has closed an oversubscribed $60 million series B, money earmarked for moving its lead obesity candidate into human testing before the end of 2026. The round was led by BVF Partners, with Deep Track Capital and Perceptive Advisors joining as first-time backers. 4 September 2026
Biotechnology
USA-based biotech company Typewriter Therapeutics, which also runs a Japanese arm, came out of stealth on Wednesday with $56 million in series A financing. The round was led by US venture firm AN Venture Partners and US investment firm RA Capital Management, with Japanese venture firm ANRI, Gemseki and SBI US Gateway Fund also taking part. 3 September 2026
Pharmaceutical
The USA's Advanced Research Projects Agency for Health (ARPA-H) has selected five teams to build the equipment needed to make individualized RNA medicines close to the patient, awarding contracts worth up to $125 million in research and development funding. 2 September 2026
Biotechnology
French biotech firm Inventiva has appointed Chris Benecchi as chief operating officer, completing its leadership team roughly one quarter before the trial result that will decide the company's direction. Topline data from the pivotal Phase III NATiV3 study of lanifibranor in metabolic dysfunction-associated steatohepatitis (MASH) are expected in the final quarter of 2026. 2 September 2026
Biotechnology
USA-based infectious disease biotech firm EIT Pharma has closed an oversubscribed $35 million series A round, led by Propel Bio Partners with participation from Good Ventures, Arrowtown and others. The Kirkland, Washington company said the money will principally support its lead candidate, the oral chronic hepatitis D therapy lonafarnib. 1 September 2026
Pharmaceutical
US specialty pharma company Quoin Pharmaceuticals on Friday said it has entered into a securities purchase agreement to raise up to approximately $50.0 million in gross proceeds. 29 August 2026
Biotechnology
ProFound Therapeutics, a Flagship Pioneering company based in Cambridge, Massachusetts, has received an investment commitment of up to $35 million from the Gates Foundation, including an initial $20 million payment, to support drug target and biomarker discovery for preeclampsia and eclampsia. 28 August 2026
Biotechnology
US biotech major Moderna plans to raise $2 billion through a private placement of convertible senior notes due 2032, offered to qualified institutional buyers under Rule 144A. Initial purchasers will get a 13-day option to take up to $300 million of additional notes, which would lift the total to $2.3 billion. 28 August 2026
Pharmaceutical
US clinical-stage biopharma Sling Therapeutics today announced the close of a $123 million Series C financing. The proceeds will support the continued clinical advancement of linsitinib, an oral small molecule inhibitor of IGF-1R (insulin-like growth factor 1 receptor), a validated target for the treatment of thyroid eye disease (TED). 16 September 2026
Biotechnology
California-based biotech company RegCell has closed $66 million in new funding, made up of a $44 million series A led by Playground Global and a further 3.4 billion yen ($22 million) in non-dilutive money from Japan's Agency for Medical Research and Development (AMED). The company said on Tuesday the cash will carry its regulatory T cell platform into clinical development across several autoimmune diseases. 16 September 2026
Generics
Swiss generics and biosimilars company Sandoz has issued a 500 million euros ($585 million) bond with a 12-year maturity and a 4.835% coupon, with proceeds earmarked for general corporate purposes including refinancing existing debt. 15 September 2026
Biotechnology
Electra Therapeutics, a South San Francisco biotech company, has set terms for its stock market debut, proposing to sell 21.7 million shares at between $14 and $16 each. At the $15 midpoint the offering would raise about $325 million and value the business at roughly $916 million. 15 September 2026
Biotechnology
Privately-held US immuno-oncology firm Shennon Biotechnologies has raised $12 million in a financing round from Future Ventures, NextGen Venture Partners, Samos Investments, Atypical Ventures and Saras Capital, with participation from existing investors DCVC, Foundation Capital and AV8 Ventures. 14 September 2026
Pharmaceutical
Swiss pharma major Novartis is under public pressure to overhaul its board after two late-stage trial failures in the space of a few days triggered the steepest share price fall in the company's history. David Samra, managing director at USA-based fund manager Artisan Partners, told Reuters on Thursday that the board needs far stronger oversight of acquisitions. 11 September 2026
Biotechnology
USA-based Solstice Oncology has launched with a $225 million Series A financing to advance porustobart, a second-generation, Fc-enhanced CTLA-4 antibody, into neoadjuvant treatment of colon cancer. 10 September 2026
Pharmaceutical
US biotech company TwoStep Therapeutics has secured Food and Drug Administration (FDA) clearance to begin human testing of its lead cancer candidate, TS-104, alongside an oversubscribed $62.5 million series A financing. The San Carlos, California-based firm said patient enrollment in a first-in-human Phase I trial should begin before the end of the year. 10 September 2026
Biotechnology
US biotech company Encoded Therapeutics has closed a $275 million series F financing that will fund pivotal testing of ETX101, a gene therapy for Dravet syndrome, a severe form of childhood epilepsy. The privately held South San Francisco firm announced the round on Wednesday, days after presenting updated trial data at the European Epilepsy Congress. 10 September 2026
Biotechnology
US biotech Moonwalk Biosciences, which is developing first-in-class adipose-targeted RNA interference (RNAi) medicines for obesity and cardiometabolic diseases, today announced the closing of an oversubscribed $70 million Series B financing. 8 September 2026
Biotechnology
US clinical-stage biotech PDS Biotechnology saw its shares rocket 183% to $0.62 today, after it announced it has raised up to $22.55 million in equity funding in a Private Investment in Public Equity (PIPE) transaction. 8 September 2026
Pharmaceutical
The global pharmaceutical industry has committed an additional £2 billion ($2.70 billion) to the UK since September 2025, according to the Association of the British Pharmaceutical Industry (ABPI), which benchmarks the country against 12 leading markets on more than 40 international metrics in its 2026 competitiveness report. 8 September 2026
Biotechnology
USA-based biotech Superluminal Medicines has closed an oversubscribed $60 million series B, money earmarked for moving its lead obesity candidate into human testing before the end of 2026. The round was led by BVF Partners, with Deep Track Capital and Perceptive Advisors joining as first-time backers. 4 September 2026
Biotechnology
USA-based biotech company Typewriter Therapeutics, which also runs a Japanese arm, came out of stealth on Wednesday with $56 million in series A financing. The round was led by US venture firm AN Venture Partners and US investment firm RA Capital Management, with Japanese venture firm ANRI, Gemseki and SBI US Gateway Fund also taking part. 3 September 2026
Pharmaceutical
The USA's Advanced Research Projects Agency for Health (ARPA-H) has selected five teams to build the equipment needed to make individualized RNA medicines close to the patient, awarding contracts worth up to $125 million in research and development funding. 2 September 2026
Biotechnology
French biotech firm Inventiva has appointed Chris Benecchi as chief operating officer, completing its leadership team roughly one quarter before the trial result that will decide the company's direction. Topline data from the pivotal Phase III NATiV3 study of lanifibranor in metabolic dysfunction-associated steatohepatitis (MASH) are expected in the final quarter of 2026. 2 September 2026
Biotechnology
USA-based infectious disease biotech firm EIT Pharma has closed an oversubscribed $35 million series A round, led by Propel Bio Partners with participation from Good Ventures, Arrowtown and others. The Kirkland, Washington company said the money will principally support its lead candidate, the oral chronic hepatitis D therapy lonafarnib. 1 September 2026
Pharmaceutical
US specialty pharma company Quoin Pharmaceuticals on Friday said it has entered into a securities purchase agreement to raise up to approximately $50.0 million in gross proceeds. 29 August 2026
Biotechnology
ProFound Therapeutics, a Flagship Pioneering company based in Cambridge, Massachusetts, has received an investment commitment of up to $35 million from the Gates Foundation, including an initial $20 million payment, to support drug target and biomarker discovery for preeclampsia and eclampsia. 28 August 2026
Biotechnology
US biotech major Moderna plans to raise $2 billion through a private placement of convertible senior notes due 2032, offered to qualified institutional buyers under Rule 144A. Initial purchasers will get a 13-day option to take up to $300 million of additional notes, which would lift the total to $2.3 billion. 28 August 2026
Sign up to receive email updates
Join industry leaders for a daily roundup of biotech & pharma news
Copyright © The Pharma Letter 2026
| Headless Content Management with Blaze